Double Taxation update
The Government have recently announced their priorities for new and updated Double Taxation Conventions and Tax Information Exchange Agreements in the period to 31 March 2010.
This is part of an annual review intended to meet the needs of individuals and businesses who receive income from outside the UK. The Government also reviews the implementation of new Agreements to maximise the facility for exchange of tax information with tax authorities worldwide.
Over the coming months, new and updated Conventions are expected with the following countries: Australia, Austria, Belgium, the British Virgin Islands, the Cayman Islands, Croatia, Ethiopia, Germany, Hungary, Israel, Luxembourg, New Zealand, Oman, Qatar, Spain, Switzerland and Thailand.
In addition work on Agreements is ongoing with Anguilla, Gibraltar and the Turks & Caicos Islands.